Endowment funds help secure the future
Endowment funds are those funds which ensure the future of the Foundation's programs in support of Clarion University. Endowment funds are created through provisions by the donor that the assets are to be invested. Only the earned interest can be expended for the purpose for which the gift endowment was established. In addition to providing beneficial program support to the University, endowments offer the opportunity for a donor to provide recognition or memorialize an individual or family.
The Foundation is charged with certain responsibilities for the management and investment of endowment funds. The endowment funds are managed professionally by PNC Bank Trust. The finance committee of the Foundation's board of directors sets investment policy and monitors the fund manager's performance continuously.
Currently interest is paid at the rate of five percent (5 percent) annually. At that interest rate, a $10,000 endowed gift generates sufficient resources to provide $500 annually in support of scholarships, loans, lectures, programming in the fine and performing arts or enrichment of the academic areas. The Foundation utilizes 1 percent annually to cover operating expenses
related to managing the fund. Earnings in excess of the established five percent (5 percent) spending rate plus the one percent (1 percent) management fee shall be reinvested proportionally to the principal of each fund. This provision for growth of the endowment principal assures a future benefit to the university community that is intended through the establishment of endowment funds.
At the present time, endowment funds total $4,126,240 and comprise approximately 73 percent of the Foundation's assets. Interest generated by the total endowment for the coming year will provide over $206,000 in support of University programs.
While the Foundation accepts gifts of any size to an already established endowment, there is policy concerning the establishment of a new restricted or named endowment. A named endowment can be created with a minimum gift of $10,000. Gifts may be made in cash or through other vehicles, such as securities, in-kind property, or planned gifts including bequests, trusts,
annuities and insurance policies.
For additional information on how to establish a permanent endowment fund, please contact the Clarion University Foundation, Division of University Advancement, Clarion, PA 16214 or call (814) 226-5813.
The following listing includes some of the endowments at Clarion University. The next issue of Clarion Alumni News will include the remaining endowments.
FIRST YEAR SCHOLARSHIPS
University-Wide Scholarships (any major)
Bell Atlantic Leadership Scholarship
This award was established by Bell Atlantic through the State System of Higher Education to each of the 14 SSHE universities. The scholarship is a one-time award to a freshman of high academic merit who qualifies for financial assistance. Student records are reviewed for this scholarship upon receipt of their admission materials; no scholarship application is required.
Mary/Martha Colegrove Educational Fund Scholarships
The Clarion University Foundation offers the Colegrove Educational Fund scholarship. Awards are made each year to two women from McKean County. The recipients will continue to receive the awards during subsequent years providing academic requirements are met. Student records are reviewed for this award via their admission materials; no scholarship application is
required.
Commodore Corporation/Richard Boyle Scholarship
This scholarship was established by the Commodore Corporation in memory of former manager Mr. Richard Boyle. The purpose of the scholarship is to provide support for dependent children of employees of the Commodore Corporation plant and the Colony Factory Crafted Homes plant. Selection is based upon demonstrated financial need, a written statement of application, and letters of recommendation. Application information can be obtained at Commodore (814) 226-9210, Colony (814) 226-9590, Clarion University Foundation (814) 226-5813, or the Financial Aid Office (814) 226-2315.
Minnie D. Croyle Scholarships
An endowment fund was established by the estate of Miss Mary Croyle to provide scholarships for eligible undergraduate students residing in eastern Redbank Township, Clarion County, Pennsylvania. Students from western Redbank Township will be considered secondarily. Selection is based upon financial need and academic achievement. The scholarships are renewable for the sophomore, junior, and senior years if the required academic criteria are met. Contact the Foundation Office (814) 226-5813 or the Redbank Valley High School Guidance Office (814) 275-2421 for additional information.
Edith Davis Eve Scholarships
The Fund for the Advancement of the State System of Higher Education provides one-time scholarships to incoming students from Blair County. Scholarships are made available to state system universities each year on a rotating basis as determined by the Office of the Chancellor. These awards are based upon academic achievement and financial need. Student records are reviewed for this award via their admission materials; no scholarship application is required.
Eberly Family Scholarships
An endowed scholarship fund was created by the Eberly Family Trust to provide scholarships for students residing in Fayette County. Secondary consideration will be given to residents of Greene, Washington, and Westmoreland Counties. Award selection is based upon academic achievement and financial need. No application is required, as student records are reviewed via their admission materials.Foundation Honors Scholarships
Academically talented students at Clarion who participate in the Honors Program are eligible for multi-year Honors Scholarships. Students are selected on the basis of academic achievement and evidence of leadership and motivation. The scholarships are renewable, provided that students maintain the academic standards required by the program. Contact the director of the Honors Program, Dr. Hallie Savage (814) 226-2585, for
additional information.
Foundation Leadership Scholarships
These scholarships are available to freshmen on a one-time basis. To be considered, applicants must have a minimum SAT of 1,100 and be in the upper 2/5 ths of his or her graduating class. Amounts vary, but are usually, $1,500. Student records are reviewed for this scholarship upon receipt of their admission materials; no scholarship application is required.
Lois Borland Fulmer Endowment Scholarship
This scholarship fund was established by the family and friends of Mrs. Fulmer to honor her dedication to teaching. The awards will be made to an entering full-time or continuing part-time adult student of any major. Application information can be obtained each spring from the Financial Aid Office (814) 226-2315.
Helen Gendler Memorial Scholarship
This award was established by Dr. and Mrs. Stephen Gendler in memory of Helen Gendler. Funds will provide an annual scholarship to a student with disability who is registered with Special Services. Selection is based upon academic achievement, service to the university or community, and financial need. Contact the Admissions Office (814) 226-2306 or Student Support Services (814) 226-2347 for additional information.
Mary R. Hardwick Scholarship
This fund was created to honor Dr. Mary R. Hardwick, retired Speech, Communication, and Theatre professor, and her career as a gifted artist and dedicated educator. Scholarships are available to incoming freshmen or transfer students. Selection is based upon a required essay, financial need, overall academic standing, and if necessary, a personal interview. Application information can be obtained from Ms. Deborah Burghardt, director of the Women's Studies Program (814) 226-2720.
Walter Hart Scholarships
These multi-year scholarships, presented in honor of the former admissions director, are presented to incoming freshman students. Consideration is given to students in the top 10 percent of their graduating class, with SAT scores in excess of 1,200 and with outstanding accomplishments and significant contributions through involvement in extra-curricular activities. Students must meet required academic standards to receive the award in subsequent years. Student records are reviewed for this award via their admission materials; no scholarship application is required.
M.M. and Minnie H. Kaufman Leadership Scholarships
This scholarship endowment was established by Miss Virginia Kaufman ('37) in honor of her parents. Award criteria are consistent with the Foundation Leadership Scholarships as described above.
Clarence and Janet Lesser Scholarships
The Lesser Trust Fund provides scholarships to successful students in the areas of art, music, and athletics. High school students who have exhibited high interest and achievement in these areas are urged to apply. Application is made each spring prior to April 15. Selection is based upon talent, academic promise, and leadership potential. Awards may be continued in subsequent years at the discretion of the selection committee, subject to the availability of funds. Contact the Financial Aid Office (814) 226-2315 for additional information.
William Magagnotti Scholarship
This fund was established by family and friends in memory of Mr. Magagnotti, a member of Clarion's non-instructional staff for 12 years. The award was established to support undergraduate students at any level who are in good academic standing and demonstrate financial need. Applicants must submit a statement about how the scholarship would support their education at Clarion. Contact Ms. Pam Davis, Biology Department, (814) 226-2273 for more information.
Penn-Trafford Leadership Scholarship
This leadership scholarship was established for high achieving students entering Clarion University from Penn-Trafford High School. Requirements are the same as outlined for Foundation Leadership Scholarships above.
Dr. and Mrs. Arthur William Phillips Scholarships
These scholarships are made possible by a donation from the Phillips Charitable Trust of Oil City. Eligible students must have attended high school or have been a permanent resident for the last five years in Butler, Clarion, Forest, Mercer or Venango counties. Selection is based upon
positive academic records, promise of academic success, and good moral character. Financial need is considered secondarily. Further information can be obtained at the Foundation Office (814) 226-5813 or the Financial Aid Office (814) 226-2315. Application deadline in April 15.
Presidential Scholarships
$1,000 awards are made annually to incoming freshman and/or transfer students. Special emphasis is placed on outstanding academic achievement (SAT above 1250; top 2/5 ths), demonstrated leadership qualities, and involvement in extracurricular activities.
Scholarships are renewed annually, provided that students maintain the necessary academic requirements. Student records are reviewed for this scholarship upon receipt of their admission materials; no scholarship application is required.
Frank H. Sessions Scholarship
This scholarship was established in honor of Dr. Frank Sessions, former dean of graduate studies and continuing education. The funds are awarded each year in recruiting learning disabled or handicapped students. Contact the Admissions Office (814) 226-2306 or Student Support Services (814) 226-2347 for application information.
Christopher John Stahlman Memorial Scholarships
Two C.J. Stahlman Memorial Scholarships are awarded annually to Clarion County students in recognition of outstanding academic achievement, integrity, and service. Requirements include SAT scores in excess of 950 and a grade-point average no less than 3.3. One award is exclusively for students from Clarion-Limestone High School. This award can be renewed in the sophomore, junior, and senior years, provided that the student maintains the required academic criteria. The second award, available to students from any Clarion County high school, is renewable for the sophomore year. Application is required, along with an essay and possible
interview. Application information can be obtained from Clarion County high school guidance offices or the Clarion University Foundation (814) 226-5813. Application deadline is April 1.
State Board of Governors Scholarships
Awards are made each semester to minority students. Candidates must possess a 2.5 QPA. Selection criteria include academic record, contribution to the university, and participation in extra-curricular activities. These scholarships are renewable. Contact the Admissions Office (814) 226-2306 for additional information.
Minnie Patton Stayman Scholarships
The Fund for the Advancement of the State System of Higher Education provides one-time scholarships to incoming students from Altoona, Pennsylvania. Scholarships are made available to state system universities each year on a rotating basis as determined by the Office of the Chancellor. These awards are based upon financial need. Student records are reviewed for this award via their admission materials; no scholarship application is required.
Dana S. Still Scholarships
Several one-time scholarships, awarded in honor of the former professor of English, provost, interim president, and chairman of the Council of Trustees, are presented annually to incoming freshman students. Eligibility is based upon financial need. Student records are reviewed for this scholarship upon receipt of their admission materials; no scholarship application is required.
Athletics (any major)
W. S. Tippin Athletic Scholarships
The athletic scholarship fund at Clarion is administered by the athletic director. Scholarships are available to both men and women who compete on intercollegiate teams at Clarion. Interested students should have their high school coach contact the respective coach at Clarion for additional information. (Clarion University Athletics (814) 226-1997.)
Potter/McClune Scholarship Endowment
This scholarship endowment was established by Mr. Clifford R. McClune and his wife Maralouise, in honor of his parents, Blanche Irene Potter and Russell R. McClune; and grandparents. The scholarship was created to support student athletes from either Clarion Area or Clarion-Limestone High School who demonstrate financial need. Recipients are eligible to receive the award in subsequent years, provided that they remain in good academic standing (3.0 or higher). Interested students should have their high school coach contact the respective coach at Clarion for additional information. (Clarion University Athletics (814) 226-1997.)
Dr. George F. And Twila M. Wollaston Scholarships
This endowed scholarship award was funded by the Wollastons (George '57 and
Twila '58) as a means of attracting outstanding young men and women in academics and athletics to Clarion. Two freshman scholarships are awarded each year, one to a member of the men's baseball team and one to a member of the women's basketball team. For additional information contact Mr. Robert Carlson, athletic director (814) 226-1997.
Specific Academic Areas
Biology
Outstanding Biology Scholars Award
These scholarships are awarded annually to freshman biology, secondary education biology, or medical technology majors. The awards are based upon academic achievement, with SAT scores higher than 1,200 and class rank in the top 20 percent. The awards are continued if requirements are met each year. Contact the Biology Department (814) 226-2273 for additional
information.
Computer Information Science
George R. Lewis Scholarships
These scholarship awards are made available to deserving students in computer science. The scholarship is renewable through four years, provided that students meet the required academic standards. Contact the chairperson of the Computer Information Science Department (814) 226-2442 for more information.
Education
Parma Dixon Mooney Scholarship
A scholarship is awarded each year to a freshman or transfer student majoring in elementary education. Candidates must be residents of Clarion County. Selection is based upon academic record, participation in extracurricular activities, and leadership skills. Contact the Admissions Office (814) 226-2306 for additional information.
Special Education/Rehabilitative Science Freshman Scholarship
This endowed scholarship has been established by the Special Education Department and is offered to a freshman majoring in special education or rehabilitative science. The recipient of the award is selected based upon academic achievement, leadership, and community service. Contact the chairperson of the Special Education Department (814) 226-2325 for additional information.
Laura Taylor Booth Presidential Scholarship
This fund was established by Mrs. Oleta B. Amsler in honor of her mother. It is intended to support a freshman elementary education student who resides in Elk County. Second preference is given to residents of Western Pennsylvania. Special emphasis is placed on academic achievement, demonstrated leadership, and involvement in community and extra-curricular activities. There is opportunity for the student to receive the award in subsequent years. Student records are reviewed for this scholarship upon receipt of their admission materials; no scholarship application is required.
English
Gilbert Neiman Scholarships
These scholarships were established in memory of Dr. Neiman, former professor of English at Clarion. Three awards are made each year, one each to a junior, sophomore, and freshman who major in English, liberal arts, or secondary education English. Freshman applicants must submit a creative writing or critical essay, recommendation from a senior English teacher, and a high school transcript. Application should be made after the student has been accepted at Clarion with the English Department (814) 226-2482.